The compilation was produced by Aaron Dessner and co-produced by Bryce Dessner and Josh Kaufman. Several songs, including "To Lay Me Down," "Candyman," and "Rybin & Cherise," feature the house band: the Dessners, Scott and Bryan Devendorf (also of the National), Kaufman, Conrad Doucette, Sam Cohen, and Walter Martin (the Walkmen). Day of the Dead will be available digitally, as a 5xCD set, and as a limited edition vinyl box set.

In March, a bunch of covers from the record were released, including takes from the National, Courtney Barnett, the War on Drugs, Bruce Hornsby with Justin Vernon's band DeYarmond Edison, and Phosphorescent with Jenny Lewis. Earlier this month, the National and Grizzly Bear members' 17-minute cover of "Terrapin Station (Suite)" was released.